Auckland consumer confidence takes tumble

No more than three months from the election, Auckland consumers' confidence about the economic outlook has tumbled.

Although optimists still outnumber pessimists, the latest Westpac McDermott Miller quarterly survey of consumers found a steep decline in confidence in the three main centres, especially Auckland.

The fall related more to views about the outlook for the economy over the next year than to respondents' own circumstances.

The main reason for expecting worse rather than better times was bad economic policy and the Budget.

That was cited by 34 per cent of Aucklanders seeing bad times ahead, up from the 13 per cent citing economic policy in March.

"In fact economic policy hasn't really changed," said Westpac chief economist Brendan O'Donovan. "It's just that the tax issue is more to the front of people's minds."

Nationwide confidence has fallen more, and is weakest, among middle class consumers.

"The survey results indicate consumers are reasonably happy about the here and now but, particularly in the cities, are becoming far more circumspect about the future."